#023 RSIRE Todd Miller 2nd Time In The Rental Market

#023 RSIRE Todd Miller 2nd Time In The Rental Market

Purchasing investment real estate can be rewarding and challenging, and sometimes both! Sometimes you are stressed and overwhelmed and want to sell your rental properties.

Todd Miller experienced this a few years ago, after purchasing an investment property that was empty when he and his wife bought it. Instead of an exhaustive search and screening process for tenants, they decided to rent it to family, as you could trust them with your precious investment.

 

While it may seem ideal to rent to family, it can create an ‘interesting’ dynamic, if the tenant is late with rent and requests you wait for it. As Denise says you don’t kick out your family members, so after realizing the property had appreciated and no longer wanting to have the extra work of managing a rental property, they agreed to sell to another investor and move on.

After a few years, they realized the property would likely have been either almost mortgage free or would have supported a refinance to purchase more properties, Todd & Kerri decided to get back in the investing game, and now own 7 doors. Life is much different now, as Todd can either manager them himself or get a good property manager to help.

Join host award winning mortgage broker Denise Laframboise each week as she brings the good, the bad and the just plain ugly in real estate transactions, as told by real people. Success stories and tips on how to avoid the same pitfalls. We'd love you to please like, subscribe, follow and share these amazing stories.

 

To get in touch with Denise:

Web: http://DeniseLaframboise.ca
Email: [e-mail] 
Phone: [phone] ext 1

 

Hashtags for this episode: #mortgage, #financing, #refi, #equity, #rentals, #investment, #GTA, #Toronto, #Ontario, #durham, #tenants, #realtor, #rentalhousing